Dan Paladin's Blog

Rates begin somewhat stable Updated Oct. 9, 2013
The ups and downs seen in rate-indicative bond yields over the course of the holiday-shortened week netted out to relative stability in average weekly mortgage rates, according to Freddie Mac's primary market survey."Rates really bounced around...hour to hour, minute to minute" during the week, Frank...

California Sellers asked To Offer Job Loss Protection Updated Oct. 9, 2013
With the successful completion of its payment assistance plan for homebuyers who are laid off from their jobs, the California Association of Realtors has launched a new program, this one paid for by sellers.Some 5,500 first-time buyers took advantage of the original Mortgage Protection Program, which gave...

What a ride!! Updated Oct. 9, 2013
We talked about market volatility yesterday remaining extreme over the next week or so; today's Nov employment report set it up. A huge miss on estimates from analysts and economists; as we always note, trying to predict employment is difficult if not impossible. The Nov unemployment rates was widely...

Is the mortgage market finally coming back? Updated Oct. 9, 2013
The answer is important, because the housing inventory won't shrink until more people are able to qualify for loans. Here are 3 reasons for optimism.After more than two years of misery in the housing market, the worst may finally be over. A handful of recent developments in the mortgage market all point to an...

Making sure your Cash-To-Close Comes From The Proper Source Updated Oct. 9, 2013
Providing proper asset documentation and the actual source of the funds is a critical element of the loan closing process.There's nothing worse in a real estate purchase than making it all the way through the hoops and hurdles just to have a loan denied after the final documents have been signed due to the...

How can a fully approved loan get denied after signing loan docs? Updated Oct. 24, 2014
Simple, the underwriter pulls an updated credit report to verify that there hasn't been any new activity since original approval was issued, and the new findings kill the loan. This generally won't happen in a 30 day time-frame, but borrowers should anticipate a new credit report being pulled if the...

7 Fast Fixes For Your Credit Scores Updated Oct. 9, 2013
If you're dragging around bad credit scores, you'll pay more for car loans, credit cards and mortgages. Here's how to turn them around in a hurry. Plus: 4 credit mistakes to avoid.So you've had a few problems getting the bills paid lately, and you're wondering what you can do to repair...

What will the big new tax law mean for you? Updated Oct. 9, 2013
WASHINGTON (AP) -- It's the most significant new tax law in a decade, but what does it mean for you? Big savings for millions of taxpayers, more if you have young children or attend college, a lot more if you're wealthy.The package, being signed Friday by President Barack Obama, will save taxpayers, on...

97% LTV is back!! Updated Oct. 24, 2014
97% LTV's are back!!. This is a great is a product for high quality borrowers with limited funds for down payment. If you have a loan above the FHA statutory loan limit you now have a high LTV option for a conventional loan.. 97% LTV Conventional Loans. The max LTV on conforming loans is now 97%. There are no state...

Single Family sales on the rise in November Updated Oct. 9, 2013
Sales of existing single-family homes jumped 6.7% in November after falling 2% in October, according to the National Association of Realtors. NAR chief economist Lawrence Yun sees the rise in activity as a sign the housing market is recovering, thanks to steady job creation in the private sector and favorable...

Will Values Rise in 2011? Updated Oct. 9, 2013
Home values are starting to turn the corner and move in a positive direction, according to the U.S. real estate market forecast from Veros Real Estate Solutions.Over the next 12 months, approximately 40% of all major metro areas are forecast to appreciate even though that growth is expected to be mild, said Eric...

Weekly 30 Yr rate slightly lower Updated Oct. 9, 2013
The average 30-year mortgage rate tracked in Freddie Mac's latest weekly survey came in slightly lower than the previous week, ending an upward week-to-week trend seen in recent surveys.Vice president and chief economist Frank Nothaft said in his weekly report that rates are still relatively low in a...

Realtors forecast 8% increase in 2011 existing home sales Updated Oct. 9, 2013
The National Association of Realtors' gauge of future home sales rose 3.5% in November after a 9.2% jump in October.It is the second consecutive monthly increase for NAR's pending sales index and the trade group is expecting a 7.8% increase in existing home sales in 2011."In addition to exceptional...

Good Neighbor Next Door Program Updated Oct. 9, 2013
HUD's Good Neighbor Next Door program offers law enforcement officers, firefighters, emergency medical responders, and school teachers the opportunity to purchase HUD real estate-owned properties (REO) in designated revitalization areas at a 50 percent (50%) discount from the purchase price. HUD...

Rates Start Year Relatively Lower. Updated Oct. 9, 2013
Rates in Freddie Mac's closely watched survey have started the year at levels that are below the market's recent rate spike and those seen in the previous week. But they are still above the record lows seen in the past year.In the most recent week, the average rate for a 30-year fixed-rate mortgage was 4...

Market Status 1-11-11 Updated Oct. 9, 2013
U.S. stocks are higher this morning after a strong earnings report from Alcoa gave a good start to the Q4 earnings season. Global markets continue to focus on the European sovereign debt problems which do not seem to be going away anytime soon. China and Japan were out in support of buying European financial aid debt,...

Forgotten Tax Credit In Effect Until April Updated Oct. 9, 2013
Did you forget about the $8,000 tax credit for military and certain federal employees? A little-known (and mostly forgotten) provision of the Home Buyer Tax Credit bill that became effective on Nov. 6, 2009, is that certain military personnel and Foreign Service employees have an extra year to purchase a home...

TOP MISTAKES BUYERS MAKE Updated Oct. 9, 2013
1. Not knowing how much house you can afford.. 2. Assuming foreclosures are great deals.. 3. Letting your true feelings show.. 4. Failing to find a good buyer's agent.. 5. Underestimating the costs of owning a home.. 6. Failing to budget for property taxes.. 7. Skipping the inspection.. 8. Doing too much too fast.. 9. Failing to...

FHA 90 day flip waiver Updated Oct. 9, 2013
If you like good news and happiness, check this out.... So back in January 2010 I reported (and rejoiced) that the FHA had decided to suspend the 90-day anti-flipping rule for 1 year.The now-infamous rule was originally intended to prevent shady speculators from defrauding the government, but it also stifled the...